AVAX One
AVAX One (NASDAQ: AVX) is a Vancouver-based digital asset treasury company that holds AVAX tokens, runs an Avalanche validator node, operates flared-gas Bitcoin mining in Alberta and Ohio, and is building AI HPC data center capacity near Calgary.
- Company typePublic
- Founded2019
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What AVAX One does
AVAX One (NASDAQ: AVX, formerly AgriFORCE Growing Systems Ltd.) is a Vancouver-based publicly-traded company that operates as a digital asset treasury focused on the Avalanche blockchain, holding AVAX tokens and generating revenue through staking, liquidity provisioning, and validator node delegation fees. The company also operates Bitcoin mining facilities in Alberta and Ohio powered by flared gas, and is executing a strategic pivot toward AI and high-performance computing (HPC) infrastructure, including a planned 10-megawatt natural gas-powered AI HPC data center near Calgary in partnership with BlueFlare Energy Solutions, targeted for Q1 2027 completion at a $30-35 million capex. Originally founded in 2017/2019 as an agtech business, the company underwent multiple strategic pivots — acquiring Radical Clean Solutions in August 2024 for hydroxyl radical disinfection technology, launching Bitcoin mining in December 2024, completing a $300 million PIPE financing led by Hivemind Capital in November 2025, rebranding to AVAX One, and launching its first public Avalanche validator node in January 2026.
The company generates revenue across four streams: Avalanche validator delegation fees (usage-based), digital asset treasury management (transaction fees), Bitcoin mining (transaction fees), and planned AI/HPC compute services (usage-based). Customer segments are primarily retail and institutional cryptocurrency investors seeking Avalanche ecosystem exposure, with a developing pipeline of enterprise AI/HPC compute clients. Distribution is enabled through its NASDAQ listing and supported by strategic advisor Anthony Scaramucci (founder of SkyBridge Capital). Key institutional investors include Hivemind Capital (lead of $300M PIPE), Abu Dhabi-based M2 Capital ($21M), and a broad syndicate that participated in a separate $214.4M raise in October 2025.
FY2025 revenue was $2.3 million against $33 million in net losses, indicating significant operating cost intensity relative to current topline. The company has raised approximately $540 million in equity and PIPE financing cumulatively across 2025-2026, with a $40 million share repurchase program announced after shares fell approximately 70% from peak. The headcount of 11-50 employees and ~$50 million market capitalization as of April 2026 reflect a small, capital-intensive operating footprint relative to balance sheet scale.
AVAX One firmographics
Firmographics- Name
- AVAX One
- Legal name
- AgriFORCE Growing Systems Ltd.
- Website
- https://agriforcegs.com
- Company type
- Public
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- AVAX One (NASDAQ: AVX) is a Vancouver-based digital asset treasury company that holds AVAX tokens, runs an Avalanche validator node, operates flared-gas Bitcoin mining in Alberta and Ohio, and is building AI HPC data center capacity near Calgary.
- Ownership category
- akta.pro rank
AVAX One industry classification
Industry- Product category
- Digital Asset Treasury
- NAICS
- Other Financial Vehicles (52599), Open-End Investment Funds (525910)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
Keywords
Where AVAX One is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
AVAX One business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Avalanche Validator Delegation Fees: Revenue generated through operating a public validator node on the Avalanche blockchain that allows public delegation, earning fees from delegators who stake AVAX through the node.
- Digital Asset Treasury Management: Holding and managing Avalanche native tokens (AVAX) as part of digital asset treasury strategy, participating in staking and liquidity activities on-chain.
- Bitcoin Mining: Cryptocurrency mining operations launched December 2024 using flared-gas-powered facilities in Alberta and Ohio.
- AI and HPC Compute Services: Planned revenue from AI inferencing workloads and high-performance computing capacity at data center facilities, targeting enterprise clients requiring accelerated compute.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels3 records
AVAX One product offering
Product offeringCore offering
AVAX One operates as a publicly-traded digital asset treasury company that runs a public Avalanche blockchain validator node enabling institutional-grade delegation and earning delegation fees, manages Bitcoin mining operations powered by flared gas, accumulates and stakes AVAX tokens as part of its treasury strategy, and is developing AI and high-performance computing data center infrastructure. The company holds hydroxyl radical disinfection technology through its subsidiary Radical Clean Solutions Limited for healthcare and industrial applications.
Product overview
AVAX One is a digital asset treasury company (formerly AgriFORCE Growing Systems Ltd.) that operates a diversified portfolio of blockchain and infrastructure services. The company operates Bitcoin mining facilities, runs an Avalanche validator node for delegation revenue, manages a digital asset treasury strategy focused on AVAX token accumulation, and is pivoting toward AI/high-performance computing data center infrastructure. The previously acquired Radical Clean Solutions brand provides hydroxyl radical disinfection technology for healthcare and industrial markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Avalanche Validator Node Public validator node on the Avalanche blockchain that enables public delegation and generates revenue through delegation fees using institutional-grade cloud architecture for high uptime and performance.
- Bitcoin Mining Operations Cryptocurrency mining operations launched in December 2024, utilizing flared-gas-powered energy in Alberta and Ohio facilities for cost-efficient Bitcoin mining.
- Digital Asset Treasury Strategy centered on accumulating and holding Avalanche blockchain token (AVAX), participating in staking and liquidity-providing on-chain activities as part of a publicly-traded digital asset treasury.
- Radical Clean Solutions (RCS) Hydroxyl Radical Technology Hydroxyl radical technology for disinfection, serving healthcare and industrial applications beyond agriculture, acquired through wholly-owned subsidiary Radical Clean Solutions Limited.
- AI High-Performance Computing Data Center AI and HPC compute capacity infrastructure under development, including a planned 10-megawatt natural gas-powered facility near Calgary in partnership with BlueFlare Energy Solutions and Bantry Data site acquisition in Alberta, targeting enterprise clients requiring accelerated compute for AI inferencing workloads.
Quantifiable outcome
- Shares fell approximately 70% from peak following strategic pivot announcement
- +1 more outcomes
Companies that use AVAX One
Customer profileSegments2 records
Ideal customer profiles2 records
AVAX One technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
AVAX One partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- BlueFlare Energy SolutionscoreAlberta-based BlueFlare Energy Solutions partnered with Avax One to develop a 10-megawatt AI high-performance compute data centre within 80-kilometre radius of Calgary. Expected to cost $30-35 million with completion targeted for Q1 2027.
- Anthony ScaramuccicoreAnthony Scaramucci, founder of SkyBridge Capital, serves as strategic advisor to AgriFORCE Growing Systems Ltd. and AlphaTON Capital Corp. He is bullish on Bitcoin and Layer-1 tokens including Ethereum and Solana.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
AVAX One competitors and assessment
Company assessmentDirect peers
- Bit Digital: Public company that has pivoted from mining to a crypto treasury and AI cloud services model. Closely comparable in business model evolution and small-cap treasury positioning.
- Marathon Digital Holdings: One of the largest publicly-traded Bitcoin miners, with a treasury strategy that combines BTC accumulation with mining operations. Comparable to AVAX One's digital asset treasury and mining dual approach.
- Cipher Mining: Public Bitcoin miner with energy-advantaged sites and a stated optionality on HPC/AI hosting. Comparable to AVAX One's effort to combine BTC mining with energy-advantaged AI compute.
- CleanSpark: Public Bitcoin miner focused on energy-efficient operations and, increasingly, HPC. Comparable to AVAX One on the mining side and on the broader narrative of monetizing power assets.
- Hut 8: Public Bitcoin miner that has aggressively pivoted into AI HPC data center hosting using its energy infrastructure. Highly comparable to AVAX One's combined BTC mining + AI/HPC pivot strategy backed by energy-advantaged sites.
- Bitfarms: Public Bitcoin miner operating in North America with energy-advantaged sites. Comparable on mining operations and on the strategic conversation of using power infrastructure for AI workloads.
- Core Scientific: Emerged from bankruptcy as a crypto mining operator now pivoting into AI HPC hosting. Closely mirrors AVAX One's hybrid mining-plus-AI compute model with energy-advantaged infrastructure.
- MicroStrategy: The original and largest publicly-traded corporate digital asset treasury, holding bitcoin on its balance sheet. Directly comparable to AVAX One's treasury model, with AVAX One effectively positioning as the 'MicroStrategy of Avalanche' rather than Bitcoin.
- Riot Platforms: Large-cap publicly-traded Bitcoin miner with substantial energy infrastructure and growing diversification into HPC. Comparable to AVAX One's flared-gas-powered mining operations and AI compute ambitions.
Broad incumbents
- Coinbase Global: Largest publicly-traded U.S. crypto exchange and custodian. Not a direct treasury peer, but the dominant incumbent in the broader crypto financial services ecosystem in which AVAX One operates its validator node and treasury.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights6 records
Customer concentration
AVAX One social profiles
Digital presenceAVAX One financial estimates
Financial estimateRevenue estimate
Valuation estimate
AVAX One leadership team
Management profileNumber of profiles
Profiles2 records
AVAX One subsidiaries and ownership
Company hierarchySubsidiaries1 record
AVAX One funding detail
Funding detailFunding overview
Funding rounds4 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AVAX One M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AVAX One
What does AVAX One do?
AVAX One operates as a publicly-traded digital asset treasury company that runs a public Avalanche blockchain validator node enabling institutional-grade delegation and earning delegation fees, manages Bitcoin mining operations powered by flared gas, accumulates and stakes AVAX tokens as part of its treasury strategy, and is developing AI and high-performance computing data center infrastructure. The company holds hydroxyl radical disinfection technology through its subsidiary Radical Clean Solutions Limited for healthcare and industrial applications.
Is AVAX One a public or private company?
AVAX One is a public company. It is classified as public and is currently operating.
When was AVAX One founded?
AVAX One was founded in 2019. It employs 11 to 50 people.
Where is AVAX One based?
AVAX One is headquartered in Vancouver, Canada, in the North America region.
How does AVAX One make money?
Four revenue lines are on record. Avalanche Validator Delegation Fees are the primary driver. The others are digital Asset Treasury Management, bitcoin Mining and AI and HPC Compute Services.
Who are AVAX One's main competitors?
Direct peers on record are Bit Digital, Marathon Digital Holdings, Cipher Mining, CleanSpark, Hut 8, Bitfarms, Core Scientific, MicroStrategy and Riot Platforms. Coinbase Global is listed as a broad incumbent.
Does AVAX One have an API?
No public API is recorded for AVAX One.
What industry is AVAX One in?
AVAX One's product category is Digital Asset Treasury. Its primary akta.pro industry code is FSADAHAL, Treasury Management & Corporate Crypto Yield Programs. Its NAICS code is 52599 and its SIC code is 6199.